TELUS Co. (NYSE:TU) Shares Acquired by Tobam

Tobam increased its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,001 shares of the Wireless communications provider’s stock after acquiring an additional 22,486 shares during the quarter. Tobam’s holdings in TELUS were worth $1,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI increased its holdings in shares of TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after purchasing an additional 5,094,269 shares during the period. FMR LLC increased its stake in TELUS by 192.0% in the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock valued at $22,257,000 after buying an additional 872,235 shares during the period. Centre Asset Management LLC purchased a new position in TELUS during the 4th quarter worth $6,946,000. Duff & Phelps Investment Management Co. lifted its stake in shares of TELUS by 13.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock worth $44,785,000 after acquiring an additional 317,000 shares during the period. Finally, Nicola Wealth Management LTD. boosted its holdings in shares of TELUS by 35.7% in the third quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider’s stock valued at $17,801,000 after acquiring an additional 279,000 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TU. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, Morgan Stanley assumed coverage on shares of TELUS in a report on Monday, December 16th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Price Performance

NYSE:TU opened at $14.60 on Friday. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 4.81 and a beta of 0.75. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $18.16. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average is $14.34 and its two-hundred day moving average is $15.50.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. TELUS’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. Research analysts expect that TELUS Co. will post 0.72 EPS for the current year.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.